Cardinal Infrastructure Group (NASDAQ:CDNL) Trading Down 7% – Time to Sell?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) shares traded down 7% during mid-day trading on Friday . The stock traded as low as $65.92 and last traded at $66.2860. Approximately 306,760 shares were traded during trading, a decline of 37% from the average daily volume of 483,406 shares. The stock had previously closed at $71.27.

Analyst Ratings Changes

Several research analysts have weighed in on CDNL shares. Weiss Ratings upgraded Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Oppenheimer lifted their price target on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Zacks Research lowered shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Stifel Nicolaus boosted their target price on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.33.

Cardinal Infrastructure Group Stock Performance

The firm has a fifty day moving average price of $67.81. The stock has a market cap of $2.75 billion and a price-to-earnings ratio of 281.89. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.73.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its earnings results on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The business had revenue of $418.92 million for the quarter. As a group, equities analysts predict that Cardinal Infrastructure Group Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Cardinal Infrastructure Group

In other news, COO Benjamin Wood bought 20,000 shares of Cardinal Infrastructure Group stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average cost of $51.30 per share, with a total value of $1,026,000.00. Following the completion of the transaction, the chief operating officer owned 20,000 shares in the company, valued at approximately $1,026,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 61.70% of the company’s stock.

Institutional Trading of Cardinal Infrastructure Group

Large investors have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC acquired a new stake in Cardinal Infrastructure Group during the 4th quarter valued at approximately $31,082,000. Ophir Asset Management Pty Ltd acquired a new position in Cardinal Infrastructure Group during the 4th quarter worth $23,865,000. Wasatch Advisors LP increased its position in shares of Cardinal Infrastructure Group by 1.3% in the 1st quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock worth $27,483,000 after purchasing an additional 9,064 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Cardinal Infrastructure Group during the 4th quarter worth approximately $14,992,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Cardinal Infrastructure Group in the 4th quarter valued at approximately $14,612,000.

Cardinal Infrastructure Group Company Profile

We provide a comprehensive suite of infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets. Our operations leverage a large highly skilled workforce and a fleet of specialized equipment to deliver wet utility installations (water, sewer, and stormwater systems), as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services. We are becoming the platform of choice for a diverse array of infrastructure construction projects in our target geographies that require high-level technical expertise and sophistication.